Research tracking and investment thinking this week: this week, we tracked the online sales of new consumer appliances – integrated stove, intelligent projection and floor sweeper Siasun Robot&Automation Co.Ltd(300024) and floor washer in March. According to the data, the online sales of the main categories of new consumer appliances, integrated stoves, intelligent projectors and floor sweepers, still achieved good growth in March and maintained a high view.
The sales volume of integrated stoves on JD platform increased by 286% in March, and the growth of various brands was strong. According to the data tracking of jd.com, the Gmv of the integrated cooking center reached 165 million / + 285.6% in March, and the cumulative Gmv in Q1 was 350 million, a year-on-year increase of 99.8%. The demand for integrated stoves will be released rapidly after. In terms of branches, Midea and Yitian, the leading enterprises on the integrated stove line, increased significantly, and Marssenger Kitchenware Co.Ltd(300894) grew steadily. In March, the Gmv of Meida integrated stove reached 8.974 million, a year-on-year increase of 666%; The Gmv of Yitian integrated stove reached 37.735 million, a year-on-year increase of 710% The Gmv of Marssenger Kitchenware Co.Ltd(300894) integrated stove reached 29.06 million, with a year-on-year increase of 37%.
The boom of intelligent projection was maintained, and the sales volume increased by 15% in March. According to Jingdong data tracking, the sales volume of projector industry reached 380 million / + 25.4% in March. According to the data tracking of Amoy department, the sales of projector industry reached 370 million / + 6.2% in February. In March, the sales volume of intelligent projection of the two platforms increased by 15.2% to 750 million, and the sales volume of Q1 increased by 24.7%, maintaining the trend of high economic growth as a whole. From the perspective of branches, the sales performance of fengmi, Jimi and dangbei projection continued to improve. According to the sales tracking data of Jingdong and Taoxi, the total Gmv of Jimi projector on Jingdong and Taoxi platforms reached 250 million / + 22.3% in March; Peak meter Gmv reaches 20 million / + 55.4%; When Gmv reaches 70 million / + 62.0%; Nut projector Gmv fell 8.3% year-on-year.
New cleaning demand remains strong, and stone continues to lead growth. According to the data tracking of jd.com, the sales volume of the sweeping Siasun Robot&Automation Co.Ltd(300024) industry reached 260 million in March, with a year-on-year increase of 37.2%; Sales of floor washing machines increased by 251.2% to 80 million. According to the data tracking of Amoy platform, the sales of sweeping Siasun Robot&Automation Co.Ltd(300024) industry reached 370 million in March, a year-on-year decrease of 1.8%; Sales of floor washing machines increased by 81.8% to 320 million. Taken together, the sales of floor washing machines increased by 100.6% to 400 million in March, and the sales of floor sweeping Siasun Robot&Automation Co.Ltd(300024) increased steadily by 11.3% to 630 million. By brand, the sales performance of stone continues to lead the industry. In March, the total Gmv of stone on jd.com and Taoxi platform reached 130 million, with a year-on-year increase of 72.1% Ecovacs Robotics Co.Ltd(603486) and Tianke achieved a total Gmv of 570 million, a year-on-year increase of 13.6%; Cloud whale Gmv reached 130 million, a year-on-year increase of 4.8%.
Key data tracking: market performance: the relative income of household appliances last week was – 1.42%. Raw materials: copper and aluminum prices in LME3 months increased by + 1.2% and – 2.2% to US $10378 / 3421 / ton on a weekly basis respectively; Cold rolling prices rose 1.2% week on week to 5610 yuan / ton. Container transportation index: the weekly ratio of West America / East America / Europe was – 6.15%, – 3.74%, – 1.12% respectively; Capital flow: the shareholding ratio of Midea / Gree / Haier land stock link changed by + 0.05%, – 0.12%, – 0.34% on a weekly basis.
Suggestions on core investment portfolio: white power recommends Midea Group Co.Ltd(000333) , Haier Smart Home Co.Ltd(600690) , efficiency improvement and continuous promotion of channel reform; Kitchen electricity recommends high growth and strong incentive integrated stove leader Marssenger Kitchenware Co.Ltd(300894) , and second-line leader of all-round improvement Zhejiang Entive Smart Kitchen Appliance Co.Ltd(300911) ; Smart projection faucet Chengdu Xgimi Technology Co.Ltd(688696) , 2b and 2C go hand in hand Appotronics Corporation Limited(688007) .
Risk warning: the epidemic situation leads to fluctuations in production and marketing; Intensified market competition; Demand growth is less than expected; The price of raw materials has risen sharply.
